Vietnam to feature among 5 fastest growing economies by 2030: HSBC

The Hanoitimes – By 2030, Vietnam`s GDP is expected to reach around US$500 billion from over US$200 billion in 2018. Vietnam, along with Bangladesh, the Philippines, Malaysia and Pakistan, are predicted to be the five fastest-growing economies out of 75 developed, emerging and frontier economies included in HSBC’s projection by 2030. Illustrative photo. Under HSBC’s latest report, Vietnam is likely to be the fourth biggest mover in the global GDP ranking (47th to 39th), ahead of Malaysia in the top five in subject. So that by 2030, the contribution to global growth from emerging Asia excluding China will be converging on that of the whole of the group of countries currently classified as developed by MSCI. By 2030, Vietnam’s GDP is expected to reach around US$500 billion from over US$200 billion in 2018 and GDP per capita of US$2,015, while trade continues to remain a vital part of the economy, accounting for 184.7% of GDP. Meanwhile, Vietnam is also included in the top 10 countries that would be the most vulnerable to climate change in 2030, which is part of HSBC’s view that the fastest growing economies are also the ones most at risk from climate change. The trend of the past five years, of just below 3% global growth, looks like it could be sustainable, implying that by 2030, global GDP is about 40% higher than in 2017. Growth in both emerging markets (EM) and developed markets (DM) is projected to be a little weaker than over the… [Read full story]